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Guess the Market is getting nervous about a likely Trading Update in the next few weeks. Chances are this will be punished if it’s a lacklustre statement , even those posting positive results and a special divi ( B&M) can’t get lift off.
Also let’s not forget that Labour have promised to decarbonise the electricity grid entirely by 2030, helped by the intent of relaxing planning regulations to allow for a huge expansion of wind and solar power. Now for the problem. According to Gary Smith (leader of the GMB union ) their plans are slightly hampered by a shortage of undersea cables, which connect wind farms to the grid. “I don’t even worry about it, it cannot be done,” he told The Spectator in September. “The National Grid can’t get [undersea] cables. There are four suppliers of cables in the globe. They’re all booked out to 2030.” I haven’t checked the accuracy of his Statement but assume he’s right given Union Rep’s don’t normally like to undermine their own Party. If only the UK had
an alternative energy source close to hand !
At least Atlas are open in their mission statement to turn “illiquidity into opportunity and provide creative solutions for those seeking capital”. A layperson would probably shorten that to ‘Vulture Funders ‘, and thus perhaps not the best ‘bed fellows’ for shareholders !
Guess if the Company had been totally clean about all its issues, the SP would have collapsed long ago. At least they’ve allowed certain investors / bondholders to escape the worst effects of this collapse. Just another example of ordinary shareholders being on the lowest rung, never believe you have a voice unless you wish to spend substantial capital attempting to be heard.
From Berenberg, who now starts Volex with a 'buy' and price target 400 pence. I’ll take that for now !
The appointment of Peter Kravitz (Province Fiduciary Services ) will have been a requirement of the Senior Lenders. Shareholders interests have little bearing against secured Capital providers, I’m afraid you are in the cold.
I’d certainly question McDonald’s ‘extensive financial and investment acumen’ given amongst other questionable investments the guy heavily bought into that other ‘basket case’ known as Boo. near the top of the Market & just as the Chinese were lowering their barrels. Any slippage on performance here and the City will just love to punish MM further !
Interesting Helikon’s weighting here given their limited Fund size. They must believe a strengthening SP promotes the CFO to improve liquidity, to the detriment of shareholders. Not long to find out who wins here.
Nice to see this spring back into life, if only briefly. May actually buy a few more as B’day gift to someone who likes diamonds !
Rip. Bought shortly after Garby joined ( lacklustre) , then they turned down McCormick’s 60p share offer , at which point I nearly left but Food never goes out of fashion, so this one has been in the bottom draw ever since. No consolidation. Has further to travel yet & expect we’ll be way past 150p this time next year. ( will exit once 10x ! ).
Plus the US just can’t help themselves by pumping out record levels of Oil at around 13m bpd, so if tensions in the ME reduce I think we’ll likely see a POO pull back. Of course if OPEC fight back we could have a few problems.
So the Mgmt will only stomp up a measly £18k yet seem convinced the Itumbula West-A Well will reveal a positive result….thats conviction for you, and once this cash is gone on drilling they’ll tap SH’s again, marvellous.